Current Attempt in Progress Doug's Custom Construction Company is considering three new projects, each requiring an...

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Current Attempt in Progress Doug's Custom Construction Company is considering three new projects, each requiring an equipment investment of $22.220. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $7,070 $10,100 $13,130 2 9,090 10,100 12.120 3 12.120 10,100 11.110 Total $28,280 $30,300 $36,360 The equipment's salvage value is zero, and Doug uses straight-line depreciation. Doug will not accept any project with a cash payback period over 2 years. Doug's required rate of return is 12%. Click here to view the factor table. (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) AA BB years: years CC years Current Attempt in Progress Doug's Custom Construction Company is considering three new projects, each requiring an equipment investment of $22.220. Each project will last for 3 years and produce the following net annual cash flows. Year AA BB CC 1 $7,070 $10,100 $13,130 2 9,090 10,100 12.120 3 12.120 10,100 11.110 Total $28,280 $30,300 $36,360 The equipment's salvage value is zero, and Doug uses straight-line depreciation. Doug will not accept any project with a cash payback period over 2 years. Doug's required rate of return is 12%. Click here to view the factor table. (a) Compute each project's payback period. (Round answers to 2 decimal places, e.g. 15.25.) AA BB years: years CC years